News

Bay Area consumer prices jump 2.6%

Housing prices contributed to increase with costs rising 5.3%

Prices for consumer goods and services in the San Francisco Bay

Area rose 2.6% in the last 12 months ending in August, according to the U.S. Bureau of Labor Statistics.

Prices for housing contributed the increase, with housing costs rising 5.3%, BLS officials said. Contributing to the increase in housing costs were an 8.1% increase in the cost of fuels and utilities, including a 9.5% increase in gas service.

The cost to rent a primary residence rose 5.8%, with prices held down by an 8.4% drop in energy prices, mainly due to a drop of 16.6% in gas prices.